Max-Level Son of a Chaebol Family - Chapter 95
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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95. The Hour of Final Battle
‘Great!’
I cut off the Vision Sharing with the Grim Reaper.
‘Our Uncle Cheol-gu is going to announce the interim investigation results on Wookwang Chemical!’
Right now, the media is fanning the flames of suspicion that the Wookwang Chemical fire accident was arson, not a safety accident.
With so many casualties from the Wookwang Chemical fire accident, public attention is focused on the situation.
It meant he would properly make his mark in front of the people.
‘The fact that a mere KCIA Agent is holding a press conference means the entire KCIA is backing Uncle Cheol-gu. It would be impossible without orders from above.’
The person who could move such powerful higher-ups would definitely be Secretary Kim!
Taeseong is definitely keeping their promise to support him.
‘Name recognition is power, and experience is authority in that position. Uncle Cheol-gu won’t have to live getting pushed around anywhere with those skills now.’
Anyway, Seomun Something!
How dare he look down on Uncle Cheol-gu so much?
‘The degree of Wooguang’s sinking depends on how thoroughly they can dig up what Wooguang tried to cover up.’
No matter how big a ship is, it has no choice but to sink if a hole is drilled in the bottom.
A small hole can be patched up somehow, but a big hole is hopeless!
Wooguang, riding on the big ship of being 9th in business circles, wouldn’t be any different.
‘How will Wooguang try to escape from here?’
The media has started concentrated fire.
The KCIA is backing it, and the Blue House is watching closely.
But high-ranking officials and politicians are turning away.
It was a situation of being surrounded on all sides with no way forward or back.
‘They’re definitely scared shitless.’
They’re probably very busy holding emergency strategy meetings day after day.
In conclusion, for the body to survive, they’ll have no choice but to cut off the tail.
‘It would be troublesome if the tail they’re trying to cut off only ends with Bulgwang-dong Gasoline.’
That was the reason I recruited Secretary Kim.
I had to use Taeseong’s power to drive Wookwang to the edge of a cliff.
‘Of course, Chairman Kim of Wookwang also received an anonymous tip.’
With Secretary Kim’s skills, delivering a single letter without leaving a trace would be child’s play.
‘I even had Secretary Choi’s business card enclosed with it. A dog fight between brothers is now unavoidable.’
Click.
‘Hey, Guardian Spirit.’
[Daily drama…]
‘Is that more interesting than watching a fight?’
[Th-that’s…!]
‘This side is a fight over how many Wookwang subsidiaries we can snatch up, that side is about when to watch a recorded drama. Still don’t want to go?’
The Grim Reaper’s eyes shook violently as if hit by an earthquake.
I casually waved the video tape.
‘As promised, I recorded your favorite daily drama like this.’
[Ooooh!]
‘But don’t show recording tapes to those who don’t work. That’s obvious, right? I’m going. Execute!’
[Execute!]
The Grim Reaper rushed out frantically.
* * *
The Grim Reaper stood before the 10-story Jeju basalt stone wall and 20-meter iron door, the ultimate display of money-flaunting.
It was the main gate of Chairman Kim of Wookwang’s mansion located in Jongno Samcheong-dong.
The site was about 1,200 pyeong with a two-story building covering approximately 900 pyeong.
In front of the main gate, reporters and cameramen from newspapers and broadcasting stations formed long lines.
Even in the bitter cold of midwinter with cutting winds, they burned with determination, shouting ‘Scoop!’
“Achoo! Trying to catch a scoop is going to kill us. My mouth is going numb, isn’t it?”
“The coffee I brought in the thermos has all frozen. Ugh, so cold!”
“Go buy some steamed buns and warm soy milk. Let’s at least eat something.”
“But why is it so quiet here? He’s not budging at all. This doesn’t make sense, does it?”
Despite the miserable weather that made them stamp their feet from the cold.
This was the reason the reporters couldn’t leave this place until late hours.
The reporters clicked their tongues in amazement.
“With the situation escalating this far, shouldn’t the group hold an emergency meeting?”
“Their response is completely different from when the Wookwang Chemical fire accident happened.”
“Back then, he called all the subsidiary executives together for a public apology, so why is he choosing silence this time?”
This was why the reporters were tilting their heads in confusion while burning with the desire for a scoop.
“Something smells fishy.”
“Yeah, it smells like conspiracy.”
“I can’t figure out how they’re planning to handle this.”
“Then we have no choice. We’ll have to camp out like this and catch the decisive moment.”
In front of the main gate, reporters’ eyes gleamed like a pack of hyenas in the darkness.
Their goal was only one!
-Front page newspaper article! The scoop is mine!
But they didn’t know.
That dozens of luxury sedans were streaming in through the next door house’s parking lot.
They were the cars of Wookwang Group’s core subsidiary presidents.
Click.
President Kim of Wookwang Construction and Secretary Choi got out of their car.
Secretary Choi swallowed nervously.
“No one answered our calls. It seems they’re planning to cut ties with us and find their own way out.”
“Bastards who don’t even deserve to take bribes.”
“President, what do you plan to do? If it’s revealed that you were behind Bulgwang-dong Gasoline…”
“Hey, that’s dangerous talk! I’ve never seen or heard of such a guy!”
President Kim of Wookwang Construction spoke decisively.
“What’s a three-page anonymous tip going to do?”
The anonymous tip sent to Secretary Choi was missing the business card.
Unlike the one sent to Chairman Kim.
“Tell them to bring evidence if they have any. Though there’s no way such a thing exists.”
“President, then…”
“While hyung has been holed up inside the house all day without budging, why do you think I’ve been running around busy all day? I met with the subsidiary presidents to unite our intentions.”
This was why President Kim of Wookwang Construction had such deep fatigue written across his face.
“You think I only stuffed bribes into the mouths of those who took them? I fed my people much more.”
How many years had he been eyeing the chairman position all this time.
President Kim of Wookwang Construction had devoted all his efforts to internal company politics.
“Since we’ve come this far, it’s do or die. I can bring down Hyung faster than he can root out the traitors.”
President Kim of Wookwang Construction strode forward with large steps.
“Anyway, this is an opportunity that’s hard to get again. Secretary Choi, get your head straight. Got it?”
“Yes, President.”
“Probably after today, many things will change. Hyung’s era is ending now, and the era of me, Kim Woo-seok, will begin.”
President Kim of Wookwang Construction smiled wickedly as he opened the door.
When the door connected to the back gate of Chairman Kim’s mansion opened, the Wookwang subsidiary presidents who had arrived first all turned to look in unison.
They were presidents from 28 out of 41 Wookwang subsidiaries.
“President Kim, have you arrived?”
It had been nearly 30 years since he secretly recruited them and they had been supporting and pulling each other along.
They were comrades who had been closer than brothers.
The fact that these subsidiary presidents chose to wait for President Kim of Wookwang Construction and enter together instead of going into the mansion first suggested many things.
That’s why President Kim of Wookwang Construction could smile with satisfaction.
“You’ve waited long.”
It was a statement loaded with meaning.
President Kim of Wookwang Construction had been waiting for this day for over 30 years.
“It’s time for the decisive battle. Let’s go in now.”
Like how the protagonist appears last.
President Kim of Wookwang Construction entered confidently and boldly with his shoulders and chest straight.
The 28 subsidiary presidents followed behind him.
* * *
The study of Chairman Kim’s mansion.
The Wookwang subsidiary presidents sat on the sofa in two rows, their expressions seriously hardened.
Chairman Kim stood in front of the study’s glass window where moonlight coldly streamed in, looking down at the garden with cold eyes.
The Wookwang subsidiary presidents looked at each other and exchanged glances.
The silent glances they exchanged were filled with undeniable anxiety and tension, as well as worry and concern.
Finally, Chairman Kim clasped his hands behind his back and spoke.
“President Seo, what’s Wookwang’s current stock price?”
“Due to the Wookwang Chemical fire accident, about 30% plummeted all at once, and when the arson speculation articles came out, it dropped an additional 15% to nearly 30% more.”
It meant the stock price had been cut in half in just a few days.
It meant they had suffered astronomical losses just sitting still.
“The entire group? Or specific subsidiaries?”
“I’m reporting the average for the entire group.”
President Seo of Wookwang Securities swallowed dryly.
He was the man who had calculated billions in profit by working his abacus during the Taeseong Chemical acquisition negotiations.
“Among them, Wookwang Steel’s stock price fell the most.”
“By how much?”
“It finished trading at about 40% compared to the previous level.”
“So the stock price plummeted nearly 60% in just a few days.”
It was a terrible figure.
The Wookwang subsidiary presidents kept their mouths tightly shut at the unbelievably grim situation.
President Seo carefully continued his report.
“Wookwang Steel has had massive capital investment from the early stages of business, but it still hasn’t escaped losses. So…”
“Which subsidiary is in the best condition?”
“Wookwang Construction. It’s because last year’s Wookwang Apartment sales performance was so good. It only dropped about 20% total.”
Chairman Kim pressed his temples firmly.
“President Lee, how are the banks and private loan markets reacting?”
“They refused loan extensions. We received demand notices to repay the principal.”
This was more serious than the news about falling stock prices.
If they couldn’t repay the loans, Wookwang’s stocks held as collateral by banks and private loan markets would be transferred.
“Chairman, promissory notes are also coming back. But at this rate, it will be difficult to repay them.”
Promissory notes could be called credit contracts between companies.
In inter-company transactions, transaction amounts are usually large, so exchanging large sums within short periods frequently occurs.
So instead of paying cash for each transaction, they often settled with short-term promissory notes.
“The amount of promissory notes we need to pay to Taeseong is especially large.”
In the case of Taeseong and Wookwang, they had formed close business relationships, so promissory notes were exchanged particularly frequently.
“On top of that, when we acquired Taeseong Chemical, no, Wookwang Chemical, we promised to pay 15 billion won in short-term promissory notes…”
President Lee was the one who had warned about the dangers of the 15 billion won short-term promissory notes regarding the Taeseong Chemical acquisition.
However, he had agreed to the merger and acquisition while maintaining optimism about Wookwang’s cash flow.
That same man was now wiping his forehead with a handkerchief, struggling desperately.
“Wookwang’s cash flow wasn’t good to begin with. But with the labor union rising up over compensation for Wookwang Chemical’s casualties and victims, the problem has become serious.”
The other subsidiary presidents of Wookwang deeply agreed.
The entire group was suffering from headaches due to union protests and strike sit-ins.
“Not only are stock prices falling due to the strike sit-ins, but product manufacturing and sales have come to a complete stop. We can’t even sell the goods piled up in the warehouse right now, so there’s no way for money to come in…”
President Lee let out a deep sigh.
“How can we cover the promissory notes when we have no money? Other promissory notes might be one thing, but we absolutely cannot cover the Wookwang Chemical promissory notes. We don’t have the capacity.”
Chairman Kim squeezed his eyes shut.
His hands clasped behind his back trembled violently.
“President Jang, what are the chances of negotiating a re-acquisition with Taeseong for Wookwang Chemical?”
“If it’s re-acquisition negotiations, we’d have to desperately beg from our side. Please buy it at a good price.”
He was the one who had argued that opportunities to acquire Taeseong Chemical with just a few promissory notes were rare, and that they should desperately refuse re-acquisition negotiations.
President Jang continued with a trembling voice.
“If we can’t overcome this crisis… Wookwang won’t be able to avoid a chain bankruptcy.”
A cold silence settled in.
Chairman Kim just stared at the window without saying anything.
The ticking sound of the pendulum clock’s weight moving left and right seemed particularly loud.
In that heavy silence, someone opened their mouth.
“Hyung, it seems like it’s time to make a decision.”
It was President Kim of Wookwang Construction.
“Step down from your position as chairman. Prostrate yourself before His Excellency and beg for mercy. That’s the only way our Wookwang can survive.”
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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